The interview almost paints our Chinese friends as naive:
Certainly they have admitted the debt owing by virtue of negotiaing on terms to pay and it would seem the negotiations were long and protracted. Then their head negotiator goes on holidays for 10 days at a crucial moment. All designed to frustrate and drag it out.
In the light of the resources tax issue they may have paid too much for the project...but that's the breaks of business.
I hope it's just a cultural thing and they front up with the dough ASAP. Otherwise go for damages TS and include "lost opportunity".
Bottom Line: I think our $80m is there...just waiting on a date to be paid! Let's see how good and fast our judicial system is.
CFE Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
